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is cutting short his vacation to head back to washington to try to reach a compromise on the fiscal cliff. congress will also return from its holiday break. >>> you'll see great deals today at the stores. preholiday sales were disappointing this year. so, now, many retailers are stuck with the inventory they need to clear out. >>> and looking at today's weather. rain along the west coast. snow in the mountains. cold in the center of the nation is, with blizzard warnings in seven states. heavy rain in the northeast. >>> and finally, the most unlikely of christmas gifts. and we know this one isn't being returned today. that's simply because it's the family's dog. >> this is such a heartwarming story. it was stolen from a street in new york city. now, thanks to good samaritans the dog is back home. andy seal of wabc reports. >> oh, yes. >> reporter: angie estrada and her daughter, mia, never thought they would see their dog, marley, again. >> he's so fluffy. and he's so adorabldorable. i can't trim the tree without him. it's hard to be without him. >> reporter: marley, last seen being dog-na
-bismol to-go. hours.. can congress come to a compromise? the fiscal cliff showdown resumes with face-to-face negotiations.. muni celebrates a big milestone.. and they're givg all of us a gift!! and.. putin puts a stop to l u-s adoptions.. why?? plus meet one family who's gotten stuck in the middle this international dispute. join us for cbs 5 eyewitness news this morning... beginng at 4:30. good morning. it's friday, ,,,, >>> here's look at forecast in some cities around the country. washington, d.c., partly sunny, 42. atlanta, partly sunny, 54. st. louis, cloudy, 38, denver, mostly cloudy, 33, seattle, mostly cloudy, 44 degrees. >>> here's another look at this morning's top stories. general norman swargts schwarzkopf died at his home yesterday in tampa, florida. he drove iraqi forces out of kuwait. he died from complications related to pneumonia. he was 78 years old. >>> and president obama meets with congressional leaders this afternoon at the white house to try to cut a deal to avoid the so-called fiscal cliff. in just four days across-the-board spending cuts take effect. >>> if p
intractable debate and that's the fiscal cliff. congress has left town and there's no deal here. senator schumer, the president is now proposing a smaller deal. are we going to avoid the fiscal cliff by the first of the year or not? >> i hope so. if you look at the final positions last monday of both the president and speaker boehner, they were this close, they were this close to a solution. the president was about $200 billion higher on revenues, speaker boehner $200 billion higher on spending cuts. out of a $4 trillion budget, that doesn't seem insurmountable. so i hope they would keep talking. my one bit of advice to speaker boehner is this -- you cannot pass a bill with just republicans. on a broad thing like this, you need both and he has put himself with plan b in sort of an impossible position. he has to get these hard right guys to go along with him. if he were to say and the president were to say we're going to pass a bill with a majority of democrats and majority of democrats in the house and senate we could get a mainstream bill. i know he's worried about his speakership but w
morning news we're just hours away from falling off the so-called fiscal cliff congress is to set to meet again today will have the latest from washington. >> and secretary of state hillary clinton has been hospitalized after doctors discovered a blood clot. we will have the latest on her condition coming up. >> plus we're watching your bay area weather on this new year's eve as well as your morning commute. >> we will be right back on the kron 4 >> it is very light traffic conditions of side. your quick commute check shows you that that is exactly what we have. in a state 5 a through altman pass way are very light right now. >> new this morning. two people are in the hospital this morning after a 2 alarm fire at a residential building in san francisco's excelsior district. the fire broke out before 1:00 this morning and crews had it under control run to 3:00 pm. to get you more news faster we will turn to jackie sizzle. >> pg&e crews remain out here. it looks like it is almost destroyed. according to officials of around 1:00 a.m. this is when the fire broke out. it sent to people to the
is a big day for the redskins and their fans. >> also ahead, forget the fiscal cliff for now. congress is facing another big deadline that could impact what you could pay on something that is in just about everyone's refrigerator. we'll have more on what is called the milk cliff. have a good night. herere you go. you, too. i'm going to dream about that steak. i'm going to dream about that tiramisu. what a night, huh? but, um, can the test drive be over now? head back to the dealership? [ male announcer ] it's practically yours. but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a passat. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. >>> traffic is back to normal on the springfield interchange as virginia police continue to investigate a deadly accident that happened there. that accident did happen around 7:00 last night when a tractor- trailer stopped in traffic. it was rear ended by a pickup truck. three people inside
of those cuts are in defense alone. >> well, the other part of the fiscal cliff is congress agreed that they would cut an additional $1.2 trillion in spending. they put a committee together to try to come up with those numbers. they didn't figure out how to do it. and so what we now have is a situation where these automatic spending cuts go into place. now if we have raised some revenue by the wealthy paying a little bit more, that would be sufficient to turn off what's called the sequester. these automatic spending cuts. and that also would have a better outcome for our economy long term. but, you know, so far at least, congress has not been able to get this stuff done. not because democrats in congress don't want to go ahead and cooperate, but because i think it's been very hard for speaker boehner and republican leader mcconnell to accept the fact that taxes on the wealthiest americans should go up a little bit as part of an overall deficit reduction package. >> when you talk about a dysfunction in washington, you signed this legislation setting up the fiscal cliff 17 months ago
of the fiscal cliff is congress agreed that they would cut an additional $1.2 trillion in spending. they put a committee together to try to come up with those numbers. they didn't figure out how to do it. and so what we now have is a situation where these automatic spending cuts go into place. now, if we have raised some revenue by the wealthy paying a little bit more, that would be sufficient to turn off what's called the sequester, these automatic spending cuts, and that also would have a better outcome for our economy in the long term. but, you know, so far, at least, congress has not been able to get this stuff done. not because democrats in congress don't want to go ahead and cooperate, but because i think it's been very hard for speaker boehner and republican leader mcconnell to accept the fact that taxes on the wealthiest americans should go up a little bit as part of an overall deficit reduction package. >> you talk about a dysfunction in washington. you signed this legislation setting up the fiscal cliff 17 months ago. how accountable are you for the fact that washington can't get a
the fiscal cliff? >> well, i think we're going to find out in the next 48 hours what congress decides to do. but i think it's important for the american people to understand exactly what this fiscal cliff is. because it's actually not that complicated. the tax cuts that were introduced in 2001, 2003, 2010, those were extended and they're all about to expire at the end of the year. so on midnight, december 31st, if congress doesn't act, then everybody's taxes go up. and for the average family, that could mean a loss of $2,000 in income. for the entire economy, that means consumers have a lot less money to make purchases, which means businesses are going to have a lot less customers, which means that they're less likely to hire and the whole economy could slow down at a time when the economy is starting to pick up and we're seeing signs of recovery in housing and employment numbers improving. so what congress needs to do first and foremost, is to prevent taxes from going up for the vast majority of americans. and this was a major topic of discussion throughout the campaign. what i said was, t
one is avoiding the fiscal cliff. >> unless the president obama and congress can reach a deal by the new year, tax increases and spending cuts will take deep effect. >> president obama's re-election was one of the biggest political stories of the year. >> with the first of our year enders, here's abc's karen travers. >> reporter: president obama had to overcome a well funded opponent, struggling economy and voter doubts that he had the right agenda to turn the nation around. and after a roller coaster season, he got them. mitt romney may have started off at the front runner, but to win the republican nomination, he had to fend off some feisty challengers. >> he's the worst republican in the country to put up against president obama. >> reporter: and overcome some self-inflicted wounds. after 50 primary contests, romney clenched the nomination and it was on to the general election. >> it will be a choice between -- >> two very different paths. >> reporter: their battle focused on the economy. >> we can't afford another four years like the last four years. >> we need more tax cu
to avoid the fiscal cliff. both houses of congress are meeting in a rather sunday session. the senate convenes aat 1:00 eastern and the house at 2:00. our chief white house correspondent jessica yellen with the look at the chances for a deal and what's on the table. >> here in washington there is still hope a deal can be cut in time to avert the fiscal cliff. on saturday the president was at work here in the white house, but all eyes were on the senate where negotiators were trading deal points and revenue figures to try to reach an agreement all sides can stomach. the baseline for the president, any bipartisan bill has to extend unemployment insurance that would affect some 2 million americans, and increase taxes for the highest income earners. negotiators can still work out exactly where that tax increase would hit and whether they would halt an increase in the estate tax. in case those discussions break down, the president has asked democratic leader harry reid to prepare a separate bill to put on the floor of the senate that would raise taxes on households that earn $250,000 or mo
, are you optimistic that congress can reach a post-christmas fiscal cliff deal? tweet me. find me on facebook. people really love snapshot from progressive, but don't just listen to me. listen to these happy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this cool. you're not filming this, are you? aw! camera shy. snapshot from progressive. test-drive snapshot before you switch. visit progressive.com today. a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis symptoms. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a day can provide 24 hour relief for many with arthritis pain and inflammation. plus, in clinical studies, celebrex is proven to improve daily physical function so movin
. neither chamber in session. an eerie calm since the fiscal cliff only congress has the power to avert is less than one week away. from their home, senate democratic leaders is trying to figure out if the president's scaled back bill can pass congress at the 11th hour. >> there is absolutely no reason, none, not to protect these americans from a tax hike. at the very least, let's agree right now on what we already agree on. let's get that done. >> reporter: but to get that done, democrats first would likely need nearly ten senate republicans to cross party lines and vote to effectively increase taxes on the top 2% of americans. some conservatives be grudgingly now say they're willing to do that. >> if we get done to twn to thed that's the only choice, i would support that. but i wish we would have a comprehensive bill that dealt with spending you can entitlements and taxes and you would together. >> reporter: the senate returns to work thursday, but democratic sources say their best realistic chance of getting gop votes is when the pressure will really be on, at or close to december 31
's still no deal preventing the economy from going over the fiscal cliff. members of congress are pointing fingers over who is to blame for the lack of progress to prevent tax hikes and spending cuts. connecticut's independent senator joe lieberman expects congress to work right up to the new year's eve deadline. but he's not even sure that's going to be enough. >> it's the first time i feel it's more likely we will go over the cliff than not, and if we allow that to happen, it will be the most colossal consequential act of congressional irresponsibility in a long time. >> the president and congress are on short holiday breaks right now. due back later in the week. one possibility is a partial deal on taxes while putting off an agreement on spending, therefore kind of kicking some of the can down the road, once again. >> and that seems to be what congress is good at. no problem ever gets solved. there's no grand bargain. we heard that term tossed around. seems like we just do a little bit and then say oh, we'll get to it by summer and get to it by the fall. and nothing substantive really g
will avoid the fiscal cliff before the year ends. >> speaker boehner was $200 billion higher on spending cuts and out of a $4 trillion budget that doesn't seen insurmountable so i hope they keep talking. >> congress is expected to be back in session thursday and without a deal, tax hikes and deep spending cuts will be triggered on january 1st. >>> coming up tonight on the 10:00 news from flooded roadways to sinkholes. >>> our stormwatch coverage continue as a powerful storm leaves behind a mess in the bay area. >> thank you for trusting ktvu channel 2 news. >> we'll see you the next time newsbreaks and we're on-line at ktvu.com. we'll see you tonight at 10:00
's call it the milk fiscal cliff if congress doesn't take action before new year's day. the price of jury could more than doubled because of a law enacted way back in the 1940s. a reporter is live with the details. dominic? reporter: no one is doing anything about this in washington yet. a gallon of milk could reach $8 if we go over what they are calling the milk cliff. a new farm bill could be approved in budget cuts here is what will happen if the deal doesn't get done. what they call permanent law, says the government has to buy huge stocks of milk at twice the price. farmers will flock to the government as they make easy money, that causes a shortage of milk in the commercial market, and the agriculture industry says the hold up is disastrous. >> this is a bad outcome. i don't think we should want, nor should we advocate for, nor should congress consider it a good outcome if permanent law goes into effect. reporter: the dairy industry says congress can wrap this up quickly, but if it doesn't, it looks like more than just the cows. >> things like wheat and corn. it wouldn't kick in unt
karsashian is 12 weeks longer pregnancy. >> still ahead falling of the fiscal cliff. congress meeting again today and the vice president getting in on the talks. we will have the latest with out or a political expert michael yaki. >> trapublic transit is making sure that riders get around save this holiday season. we will be back in a few >> we have our second report of icing conditions now. we sort of expected the first ones here for the ride on san pablo dam road where one accident was caused by black eyes. what crews have been dispatched because some of the underground wiring got cut because of this accident. now the north bay and the ride on 1 01, we will take a look at the ride on the frontage road in the north bay right off of highway 1 01. there is a report of icing conditions, not on the freeway but on the and chase said frontage road that the accident occurred. >> new this morning to people in the hospital after a fire that's a home in the excelsior district around 1:00 this morning on athens street. jackie sissel is live on the scene with more of what happened. >> crews have left
. roping off the fiscal cliff. president obama and congress return, but they will need support from house republicans to pass the deal. is congress any closer to a compromise? >> a small village in the dominican republic has a new school thanks in part to local administrator. i have details, next. >> of baltimore school administrator is making a difference around the globe. >> this is great. she volunteered for a week in dominican republic and helped build a new school their. >> claire donehower is the assistant principal at the kennedy krieger school in baltimore. she took on another role as a volunteer in a mission to the dominican republic. >> i think it was a unique chance to take my love of working with kids and bring it into a completely different area. >> she was one of 40 volunteers chosen to complete the elementary school in a small village. they did everything from building walls with cinderblocks to painting to stuccoing. but her favorite part was interacting with the community. >> it was such a powerful experience and different than i expected. i wanted to save everyone from t
about the fiscal cliff problem as well as members of congress return to washington to address the fiscal cliff. talks will take place behind closed doors. no public negotiations set. you have the debt and the fiscal cliff. it's not looking too good right now when it comes to the u.s. economy. >> geithner told congressional leaders that his department is using some accounting measures basically a fancy way of saying they're going to try to free up some cash to hold off, temporarily, this fiscal cliff. but it's still not looking good. >> i don't know about you at home, but kicking the can down the road, this has been happening over and over again. somebody has to make some decisions here. >> it's like in this business, they give you a deadline and you have to hit the deadline. there's no coming in and saying take another ten minutes. it don't work that way in real life. there are americans out there saying, get off your couches, get back to washington, and get the deal done. >> sometimes it's not pretty you when you have to rush, but, hey, get it done. >>> still on the economy now, new sig
is expected back in washington later this week, just before the fiscal cliff deadline. >>> congress also home for the holidays and that means there's not a lot going on with the fiscal cliff negotiations. if no deal is reached in one week, the tax cuts enacted under president bush will expire and 1.2 trillion in spending cuts will automatically go into effect. if we do go over the fiscal cliff, how will it affect you from your paycheck to your retirement accounts? we're going to give you all the tips you need to protect yourself. here to do that this morning is ry ryan mac, president of opt middle school management. >> kudos for being able to pronounce that honolulu merry christmas saying. >> i don't think i can do it again. ahah! let's start with your paycheck as it applies to the fiscal cliff. if we go off the fiscal live how will mooirn and everybody's paycheck be affected? the majority of the paycheck won't be afeektded until 2014 when people file for 2013 stackses. there are certain things that are impacted right away like the payroll tax cut. for individuals earning about $50,000 a year
wake up the deadline to the fiscal cliff is just 14 hours ai wa. there's no deal yet, but members of congress are heading back to capitol hill. first, breaking news on the condition of secretary of state hillary clinton. >> she's in a new york city hospital this morning being treated for a blood clot. doctors say it's related to a concussion that's kept her out of the office for the past three weeks. margaret brennan is in washington with the latest. margaret good morning. >> reporter: good morning to you. secretary clinton is taking anti-coagulant to thin out the blood clot. doctors will monitor her for at least the next 48 hours. >> a warm welcome to the secretary of state. >> reporter: secretary of state hillary clinton was admitted to new york presbyterian hospital on sunday after doctors discovered a blood clot during what was termed a follow-up exam to check on her recovery from a recent concussion. >> thank you very much. how are you? >> reporter: clinton's health scare began after she contracted a stomach illness following a whirl wind trip through eur
we see in congress on many issues including the fiscal cliff where they wait until the last minute and say there is not enough time to do real reforms that are necessary here. harris: they did take time away from the fiscal cliff to debate this 4 1/2 hours yesterday. >> that's true. harris: so there is that. dan, thanks very much. >> thanks for having me. jon: so as we count down to those year-end tax hikes and spending cuts that will affect the lives of virtually every single american, why one key republican lawmaker says his party is not even trying to solve the fiscal cliff crisis and why he thinks that may be a good thing. interesting take coming up. >>> plus, russian president vladmir putin, have you heard what he did? taking aim at americans who hope to adopt russian children. what's behind this controversial move? a live report next. jon: right now syria's opposition leader is rejecting an invitation for peace talks as the violence escalates. the country's ally, russia, is inviting the leader of syria's opposition to visit moskow for the first time but that offer turned down
cliff worries president and congress back in d.c. to talk about n'ozn budget today. toyota 1.1 billion dollar charge to settle a lawsuit has to do with more than 10 million vehicles recalled for unintended acceleration from claims the value of vehicles went down as a result. k)Ñ exchange#dww, with the bloomberg business report. >>> coming up, do you use those companies that give you a cash advance on your paycheck? you magb(:l be getting some of protected panda.id;gp >> good morning. 5:53. you see the embarcadero, bay bridge you don't see rain or traffic. we'll check in with sue and find out what is going on, on the highways. we'll find out where the rain is with mike. >>> u.s. department of commerce is due to release figures for new home sales, today's updates will hold stead if i not rise a bit they predict 375,000 in new sales. housing numbers slipped last month, new building permits ticked higher, commerce department is expected to release its new report at 7:00 this morning. >>> thousands of california residents could be getting a big check thanks to a payday loan settlement. as
until the fiscal cliff deadlines, through the has of congress not a creature is stirring, not even a lawmakers. hopes of a deal are fading. before taking off, the president urged congress that pass a scaled-back stop-gap measure. >> senators agreed on sunday to pass -- >> i think unfortunately there will only be a small deal. >> it is going to be a patch. >> kristin welker, traveling with the president in honolulu. the question is will he be cutting hi vacation short? does he have a royal to play? or is it up to the senate, as some are saying? >> reporter: first of all, i think it is likely we'll see him cut his vacation short. senate majority leader harry reid, minority leader mitch mcconnell will have to work together. a lot of focus shifts to mcdonnell. he has to try to get something that will pass with republicans that they can get through the house and senate, but i think president obama certainly has a role to play. remember, he is the one who ran on the platform. >>> you heard him map out on friday. he would like a scaled-back version of the grand bargain, something to preve
is still hoping to work out a deal with congress to avoid the fiscal cliff before the new year. >>> the storm that hammered the midwest with up to a foot of snow is now menacing the northeast. it's bringing heavy snow from pennsylvania to new england. and powerful winds, down all along the coast. >>> looking at the rest of today's weather. rain from seattle to portland. light showers in the cascades, northern rockies and dakotas. rain in south texas. >>> and finally this morning, a celebration of the season. >> kwanzaa festivities are taking place throughout the country. and here's karen jordan in chicago. ♪ >> reporter: drums signal the start of kwanzaa, a week-long celebration of african heritage and culture among african-americans. this is the 18th year that malcolm x college is hosting a kwanzaa observance. and organizers say it gets larger every year. >> it's about families coming together so they can be with each other and share and talk about where we've come from, where we are now and where we must go as a people. >> reporter: kwanzaa is based on seven principles. and
part of the fiscal cliff, but because congress didn't pass a farm bill this year, you have these bizarre 1949 price supports that would go back into effect unless congress can fix that. if they don't, the price you pay at the grocery store is going to skyrocket. maybe several dollars a gallon. so because of that, congress wants to make a milk fix part of any part of fiscal cliff fix if they can do one or the other before the year ends. back to you guys. >> juliet: listening to them, what senator reid says about boehner and boehner's response. they sound like they're real housewives of dc or something. >> eric: they're nowhere near a deal. i think i have this figured out. president obama came back from hits vacation saying let's see if we can get something together, knowing very well that they can't. the house and senate are so far apart, neither one will even entertain the idea -- >> juliet: so why have a meeting? >> eric: you look like you're trying o do the right thing. these bush tax cuts will expire december 31, 72 hours from now, whatever the number is. if president ob
as a deadlocked congress reconvenes days ahead of the so-called fiscal cliff. you're just six days from feeling this. now, first hit is coming on january 1st when your take home pay will drop by 2% because of a scheduled hike in the social security payroll tax. that's just the start. income taxes are set to climb too. and you'll notice that when employer gets to around the adjusted withholding, the government spending cuts, those are also scheduled for january 1st and bound to slow the economy and some argue they'll weaken the military. congress has seen this coming, but an effort to limit the damage failed last week. republican house speaker john boehner could not persuade enough members of his party to let tax rates rise on incomes over a million dollars while sparing everyone else. dana bash is our senior congressional correspondent. dana, this time tomorrow, the president is supposed to be back, having cut his trip to hawaii short, the first lady, the girls are staying in hawaii. the senate is supposed to convene, but not necessarily the house. what is going to happen? >> reporter: well, we
to head back to washington and jump-start the fiscal cliff negotiations with congress. talks fell apart before christmas. the deadline now is just days away and there is no deal in sight to avoid the tax hikes and spending cuts set to go into effect january 1st. our juan williams is a fox news political analyst and he joins us today and very quickly, juan, merry christmas to you. >> merry christmas, kelly. kelly: this is daunting task facing congress to avert the so-called fiscal cliff that will set into motion more than $600 billion in drastic and draconian allic tax hikes and spending cuts. that will cause a lot of pain for all americans and does congress have enough time to act on this? >> they do. you know it will be very close and it may in fact go beyond the deadline per se although people are thinking at the moment it is possible to get something done by the end of this week. the key here, kelly, is the senate. we have been so focused on the house, speaker boehner, plan. about, plan b falling apart. now speaker boehner is pointing towards the senate and the white house is pointin
the fiscal cliff negotiations. he spoke exclusively on "meet the press" and he had a message for congress. >> at minimum, make sure people's taxes don't go up and 2 million people don't lose their unemployment. i was modestly hopeful yesterday. now, the pressure is on congress to produce. >> the president responded to what would happen if no agreement is reached and the nation does fall over that cliff. >> if you look at projections of 2013, people generally felt that the economy would continue to grow, unemployment would tick down, housing would continue to improve, but what's been holding us back is the dysfunction here in washington. if people start seeing that on january 1st, this problem still hasn't been solved, that we haven't seen the deficit reduction that we could have had, the republicans willing to take a deal that i give them. if they say that people's taxes have gone up, which means consumer spending is depressed, then it's going to have an adverse reaction in the markets. >> there was much more to what the president had to say. listen to what he had to say on deficits and s
soon spike to $8 a gallon. wow. congress has been so bogged down with the fiscal cliff, the farm bill is still on the table. if congress does not pass it, dairy subsidies would immediately end on january 1, and those subsidies have been keeping milk prices low for 63 years. >>> the price of curbside parking in chicago is going up january 1. parking meters will charge $6.50 an hour in the downtown area. chicago will have the highest parking meter rates in the country, taking the dubious distinction away from san francisco. congratulations. chicago outsourced its parking meters to a private company and many drivers question that question now. >>> now to some surveillance video from houston. trust me, when you see this, you're going to want these bad guys put away for a long time. the gang of thieves ripped off a daycare center. three or four young men were captured on surveillance camera. there's one right there. going in, they shattered the glass door, then stole six tvs and several game consoles. that ain't all. and one thief took the time to hop on a tiny tricycle and ride it around
for the fiscal cliff is less than 24 hours away, and there is no deal yet, but members of congress will be back on capitol hill this morning, so we will have all the news from washington in a moment. but first there is breaking news on the condition of secretary of state hillary clinton. >> she's in a new york city hospital this morning being treated for a blood clot. doctors say it's related to a concussion that has kept her out of the office for the past three weeks. margaret brennan is in washington with the latest. margaret, good morning. >> good morning to you. secretary clinton is taking anti-co-ag lands to thin out the blood clots. doctors will report lid monitor her for at least the next 48 hours. >> welcome to the secretary of state. >> secretary of state hillary clinton was admitted to new york presbyterian hospital on sunday after doctors discovered a blood clot during what was termed a follow-up exam to check on her recovery from a recent concussion. clinton's health scare began after she contracted a stomach illness following a whirlwind trip through europe. that virus led to extre
of congress meeting with the president trying to avert a fiscal cliff. as soon as we get word, you'll be the first to know. >>> no strike for at least a month for workers at ports on the east and gulf coasts. it would be a big deal for the nation's economy if the international longshoreman's association does strike. the contract was due to expire a minute after midnight sunday, but good news, good news today as both parties agree to a partial deal to keep talking. they were able to work out a major sticking point that extends the contract for a month. so stay tuned. >>> more water is drastically needed in the mississippi river. the need is so dire, barge traffic may shut down as early as next week. that means thousands of shippers may lose their jobs. water levels and ice forming in the river right now makes it difficult for the ships to pass through. ships carry about $7 billion in goods on the river in december and in january. that's according to bloomberg report. i want to bring in chad myers now. how will the current weather situation play into this? will the river get the help
to about $7 a gallon. 7 bucks a gallon. with congress' attention on the fiscal cliff, could take a few weeks to address this. might want to stock up on milk while the prices are still lower this week. >>> a winter storm could become a big problem for winter travelers. what you need to know before heading out this christmas eve, next. make a wish! i wish we could lie here forever. i wish this test drive was over, so we could head back to the dealership. [ male announcer ] it's practically yours. test drive! but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a jetta. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. on any new volkswagen. progressive direct and other car insurance companies? yes. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, i'm good. yo
are already taking a good hard look at their wallets as confidence the avoidance of the fiscal cliff diminishes. >> there is hope a deal will be cut. >> reporter: if congress doesn't oaks spire tax cuts in day, middle income earners will owe $2,000 extra a year. consumers are predicted to cut back in automotive, apparel and entertainment. >> once people decide to cut back on that, the effect is dramatic. >> reporter: the national retail federation says retailers support 1 in 4 american jobs and if the downward trend intensify, those jobs would be at risk. >> if retailers stop creating job, the economy as a whole will stop creating jobs. >> reporter: the wait is e excruciating. president obama visited hawaii after talks on capitol hill. they were $200 billion apart on a deal. >> the president was $2200 billion higher on revenues and speaker boehner, $200 billion on spending cuts. >> if you get 80% of what you want, that's a pretty good day. >> reporter: tough decision ahead, six days left. >> lawmakers are saying they will likely take on tax reform and spending cuts again in the new y
over the fiscal cliff? earlier i spoke with brianna keeler, i asked her what might happen as the holiday week rolls on? >> well, there's one sort of last ditch effort possibility here, don, and that is when the senate reconvenes on the 27th, it's possible that either they could try to pass something and sort of force it on the house or it's possible that they could take a bill that they've already passed back in july with the threshold of those tax hikes being at the $250,000 level. and that they could kind of say to the house, now the ball is in your court, you have to deal with this, it's still very much a possibility, don, that this doesn't work out, that we go over the fiscal cliff, and that was reflected today on the sunday shows from both democrats and republicans, take a listen. >> passing plan b the other night would not have changed the outcome, we're going to go over the cliff before, we're going to go over the cliff now. you cannot negotiate with someone that doesn't want to negotiate. >> in the aftermath of the house republicans rejecting speaker boehn boehner'
for us to go over the fiscal cliff and then taxes will rise, right, but then congress will reconvene on january 3rd and vote to cut taxes. is that appliable solution in your mind? >> it kind of it, pretty much what i feel will happen. they have a little bit of wiggle room. the majority of this is not going to be felt until 2014 for the majority of the income tax rise so that causes congress to force them to make a deal knowing that we actually are operating under a higher tax rate right now, even though americans won't feel it, so it's almost like an additional leverage for those who actually want to make a deal and get something done. i just want somebody, like starbucks, we all need to come together. >> and quit kicking the can down the road, darn it. >> exactly. >> ryan thank you for being with us this morning. >> thank you. >> ryan has been with us all week tackling the fiscal effects on your pocketbook. tomorrow, what the fiscal cliff means for your retirement. >>> from the strange case of the technology pioneer john mcafee on the run to so many tragic shootings, we have the top
're going to end up with a small, kick-the-can, down-the- road bill to make another fiscal cliff to deal with this fiscal cliff. >> reporter: with expectation low, lawmakers are talk about how to retroactively fix any damage done by going over the cliff with congress. nicole collins, fox news. >>> developing tonight, a strike that could have shut down ports up and down the east coast is averted for now. the long shoreman's union along the east coast and gulf of mexico will extend the current contract for 30 days. that extension prevents a possible strike that could have crippled operations at port and including the port of baltimore. in a statement today, the maryland governor martin o'malley wrote, quote, the port of baltimore continues to be a major part of the state economic strait generating and supporting thousands of jobs. during the extended period, we hope long-term resolutions can be reached for the hardworking families who depend on jobs and commerce linked to the port of baltimore. >>> to the state of the skins. it's the hottest ticket in town. the redskins play host sunday ni
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